Extension of timelines for Income tax returns and Audit reports for Assessment Year 2021-22 (Financial Year 2020-21)

If total tax payable (net of taxes etc.) is more than INR One Lakh, interest under Section 234A i.e. @ 1 percent per month will be applicable as if there is no extension(some benefit for resident individuals i.e. Sr. Citizen and those not having income under Business and Profession)

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